G20 finance chiefs meet in Durban under tariff cloud

G20 finance ministers and central bank governors are convening in Durban, South Africa, overshadowed by U.S. President Donald Trump's tariff threats and persistent doubts about the group's ability to foster global cooperation amid disputes exacerbated by Russia's war in Ukraine. Host South Africa is advancing an African agenda focused on reducing the high cost of capital and funding climate action, though key absences include U.S. Treasury Secretary Scott Bessent—his second skip this year—along with officials from India, France, and Russia. Despite these challenges and the non-binding nature of G20 agreements, the meeting aims to issue a communique, the first under South Africa's presidency, while the U.S. prepares a scaled-back approach for its upcoming G20 presidency, raising fears of further fragmentation in global forums.